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The Union Government concluded the first disinvestment of the a public sector enterprise under the new SEBI Rules allowing the notice period to include a banking day in addition to a trading day by shedding stake in Power Finance Corporation (PFC).
“The highlight of the issue has been retail participation with a 4.49 times oversubscription amounting to ₹1,510 crore. Clearly, there is tremendous appetite among retail investors for the disinvestment programme of the government,” Aradhana Johri, Secretary, Department of Disinvestment, said.
Of the total 6.6 crore shares on offer, 20 per cent were reserved for retail investors
“The OFS has also been positively endorsed by the institutional investors. At ₹2,414 crore, it was oversubscribed by 1.8 times,” Johri said.
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